ChannelAdvisor Corporation (ECOM) Downgraded by BidaskClub to “Sell”
ChannelAdvisor Corporation (NYSE:ECOM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
A number of other equities research analysts also recently weighed in on ECOM. First Analysis raised ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research note on Thursday, August 31st. KeyCorp reaffirmed a “hold” rating on shares of ChannelAdvisor Corporation in a research note on Friday, August 25th. Zacks Investment Research raised ChannelAdvisor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, June 13th. TheStreet downgraded ChannelAdvisor Corporation from a “c-” rating to a “d+” rating in a research note on Monday, June 5th. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of ChannelAdvisor Corporation in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. ChannelAdvisor Corporation presently has an average rating of “Hold” and a consensus price target of $14.67.
ChannelAdvisor Corporation (NYSE:ECOM) traded up 5.96% during mid-day trading on Friday, reaching $11.55. 239,336 shares of the company were exchanged. The stock’s 50-day moving average is $10.56 and its 200-day moving average is $11.14. The company’s market cap is $305.28 million. ChannelAdvisor Corporation has a 12 month low of $9.80 and a 12 month high of $15.85.
ChannelAdvisor Corporation (NYSE:ECOM) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corporation had a negative return on equity of 7.63% and a negative net margin of 7.42%. The firm had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same period last year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts expect that ChannelAdvisor Corporation will post ($0.02) earnings per share for the current year.
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In related news, Director Marc Huffman acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $10.00 per share, with a total value of $100,000.00. Following the purchase, the director now owns 36,411 shares of the company’s stock, valued at $364,110. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider M Scot Wingo sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $11.09, for a total value of $166,350.00. Following the completion of the transaction, the insider now directly owns 852,896 shares in the company, valued at $9,458,616.64. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $496,050 over the last three months. 11.30% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of ECOM. Tudor Investment Corp ET AL bought a new position in shares of ChannelAdvisor Corporation in the 1st quarter valued at approximately $120,000. Citigroup Inc. raised its stake in shares of ChannelAdvisor Corporation by 166.6% in the 2nd quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock valued at $125,000 after acquiring an additional 6,760 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of ChannelAdvisor Corporation in the 1st quarter valued at approximately $136,000. Voya Investment Management LLC bought a new position in shares of ChannelAdvisor Corporation in the 2nd quarter valued at approximately $136,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of ChannelAdvisor Corporation in the 2nd quarter valued at approximately $138,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
About ChannelAdvisor Corporation
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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